The EU budget (2007)

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The EU budget (2007)

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Abstract

From the financial perspective, the EU budget in May 2006 confirmed that the revenue through commitment appropriations would amount to 120 billion for 2007 i.e. 1.1% of GNP per capita. In commitment appropriations, or 1.1% of GNP of the EU. This budget is low compared to the national budget. The French budget on the other hand, contributes to more than 20% of the GDP to the France treasury. This decline in contribution is due to the negotiations between member states and EU institutions

Introduction
The budget: A challenge for the member states
1. Financing the budget by the contributing states
2. Community expenditure
The budget as an instrument of the autonomy of EU institutions
1. Segregation of the EU funding
2. Breakdown of expenditure into six headings
The role of the various EU institutions in the budget preparation and implementation
1. Role of the European Parliament
2. Role of European Council and European Commission and the integration of their contribution to the EU budget
Conclusion

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Extract

[...] Encountering pressure from European partners of France, the CAP has seen its share of the EU budget from 70% in 1980 to 35% today. II. The budget as an instrument of the autonomy of EU institutions, : A. Segregation of the EU funding : The EU budget is funded through various means. The segregation is as under: i. GNI: It contributes to a major share in the EU budget. It constitutes nearly 65% of the total revenue. ii. VAT : Although VAT is regression tax, it tends to vary across countries in the European belt. [...]

[...] Administrative costs: The EU budget uses a portion of the amount towards the administration and staffing expenses of the European Council European Commission and the European Parliament. Below is a bar chart indicating the percentage of expenses incurred by each sector. In the newly formed budget, the aspects of expenditure and revenue are divided into three categories. From the expenditure point of view, Chapter It relates to structural funds, cohesion, agricultural reserves Chapter II: European public goods comprising of growth measures, research and development, CAP, security, and immigration. [...]

[...] Other revenue: Other means of adding revenue to the EU budget is through surplus of the previous budget, payment from non-EU organizations such as the US, interest on deposits and balances arising out of funding from community programs. In order to get a comprehensive idea of the revenues, the bar graph below will explain. As the representative body of the EU executive, the Commission seeks to give the Union a genuine own resources and a larger budget, opposition in both cases a majority of member states. [...]

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